NEO Cryptocurrency Review – blockchain platform

NEO Cryptocurrency Review – blockchain platform. The NEO project is directed by Da Hongfei, along with the OnChain team has worked with several high-profile tech firms such as Alibaba and Microsoft. The NEO project especially has also worked with Microsoft China on some joint events.

NEO is a blockchain platform which permits the implementation of trustless clever contracts. Meaning that, such as Ethereum, it may be utilized for financial transactions, but it also may serve as a platform for more complex connections along with fully-featured distributed apps (dApps).

NEO Cryptocurrency Review – blockchain platform

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NEO Cryptocurrency Review – blockchain platform

Even though it shares the identical basic functionality as Ethereum, there are a couple of key differences between the two projects.

First, while Ethereum needs developers to code at its own Programming language (Solidity), developers who’d like to write a dApp to NEO’s network can do this in a variety of languages they might already know, including C#, VB.Net, F#, Java, Python, Ruby, and Kotlin. This makes getting started having a NEO job much easier for first-time blockchain programmers coming from different platforms.

Second, instead of using a power-hungry proof-of-work consensus algorithm like Bitcoin or Ethereum, NEO employs a proof-of-stake system using assigned Byzantine Fault Tolerance (dBFT). That means — to greatly oversimplify — is that consensus is achieved when 66 percent or more of those nodes on the NEO network confirm a transaction.

Having established itself as China’s leading clever contracts platform, NEO’s future seems bright. The token has already seen tremendous growth within the last year, but with fewer circulating coins compared to Ethereum plus a far lower market price, the sky’s the limit for NEO when it actually proves to be the “Ethereum killer” it is occasionally billed as, or maybe just manages to stake out a claim into a substantial share of the planet’s smart contracts market.